Sharp Decline Anticipated

CaliforniaCityFinance.com on Friday posted new city by city estimates of FY 2014-15 and FY 2015-16 HUTA (gas tax) allocations. The estimates are based on new statewide revenue estimates from the California Department of Finance released in January with Gov. Jerry Brown’s FY 2015-16 state budget proposal. In particular, cities should note the approximate 20 to 25 percent downturn in revenue for FY 2015-16 from the prior year. This is largely due to falling gasoline prices and consumption as well as “true ups” under the fuel tax swap system.